Interest Compounding Date definition
Examples of Interest Compounding Date in a sentence
Interest on the Notes shall be compounded quarterly, on each Interest Compounding Date.
Holders shall have the right to convert, upon thirty (30) days prior written notice, the principal and accrued interest of the Note, in whole or in part, into shares of Common Stock at then current Conversion Price Per Share, on any Interest Compounding Date occurring after the Registration Date.
The interest payable on any prepayment of a PIK Loan shall equal the interest accrued on the principal amount thereof paid or prepaid from and including the most recent Interest Compounding Date to but excluding the date of payment.
Subject to the terms hereof, each Lender severally agrees to make, pursuant to Section 2.8(b), on each Interest Compounding Date, a PIK Loan to Company in an amount equal to the Lender’s respective Pro Rata Share of all interest accrued on Loans during the Interest Period ending on such Interest Compounding Date (such loans, “PIK Loans”).
For the avoidance of doubt, interest paid pursuant to the option contained in this Section 2.8(b)(ii) on the applicable Interest Compounding Date, will not be deemed a PIK Loan, or any other Loan, and will not be capitalized.
No Note or PIK Note shall be issued for interest paid in cash on an Interest Compounding Date pursuant to the option in Section 2.8(b)(ii).
Subject to the terms hereof and Section 2.8(b)(ii), each Lender severally agrees to make, pursuant to Section 2.8(b)(i), on each Interest Compounding Date, a PIK Loan to Company in an amount equal to the Lender’s respective Pro Rata Share of all interest accrued on Loans during the Interest Period ending on such Interest Compounding Date (such loans, “PIK Loans”).
CNH HOLDINGS COMPANY, a Nevada corporation (the "Company"), for value received hereby promises to pay to ________________ or registered assigns (the "Holder"), the principal amount of $_________ with interest on the unpaid principal of this Note, from the date hereof, at the rate of eight percent (8%) per annum, compounded quarterly on each Interest Compounding Date, except as otherwise may be provided herein.